Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents the balances of assets and liabilities measured at fair value on a recurring basis, by level within the fair value hierarchy, as of the dates presented (in thousands):

	June 30, 2023								December 31, 2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Total
Cash equivalents:
Money market funds	$	30,062	$	—	$	—	$	30,062	$	14,620	$	—	$	14,620
Total cash equivalents		30,062		—		—		30,062		14,620		—		14,620
Short-term investments:
U.S. government agency securities		—		40,433		—		40,433		—		78,621		78,621
Corporate notes and bonds		—		3,998		—		3,998		—		26,953		26,953
Commercial paper		—		8,218		—		8,218		—		24,073		24,073
Treasury bill		—		—		—		—		—		11,359		11,359
Yankee bonds		—		1,980		—		1,980		—		1,939		1,939
Agency bonds		—		5,908		—		5,908		—		2,882		2,882
Asset-backed securities		—		3,119		—		3,119		—		8,321		8,321
Total short-term investments		—		63,656		—		63,656		—		154,148		154,148
Long-term investments:
U.S. government agency securities		—		3,411		—		3,411		—		13,462		13,462
Yankee bonds		—		1,900		—		1,900		—		1,869		1,869
Agency bonds		—		—		—		—		—		2,983		2,983
Asset-backed securities		—		684		—		684		—		886		886
Total long-term investments		—		5,995		—		5,995		—		19,200		19,200
Total assets at fair value		30,062		69,651		—		99,713		14,620		173,348		187,968
Acquisition-related contingent consideration liability		—		—		4,602		4,602		—		—		—
Total liabilities at fair value		—		—		4,602		4,602		—		—		—

Summary of Reconciliation of Level 3 Items Measured at Fair Value on Recurring Basis

A reconciliation of Level 3 items measured at fair value on a recurring basis is as follows (in thousands):

	June 30, 2023
Contingent consideration liability:
Balance at beginning of period	$	—
Initial estimate upon acquisition		4,602
Remeasurement of fair value of contingent consideration liability		—
Total	$	4,602

Schedule of Cost Or Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses, And Total Estimated Fair Value Of Financial Assets

The following tables present the cost or amortized cost, gross unrealized gains, gross unrealized losses and total estimated fair value of our financial assets as of the dates presented (in thousands):

	June 30, 2023
	Cost or		Gross		Gross			Total Estimated
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Description:
Money market funds	$	30,062	$	—	$	—		$	30,062
U.S. government agency securities		44,187		—		(343	)		43,844
Corporate notes and bonds		3,998		—		—			3,998
Yankee bonds		3,898		—		(18	)		3,880
Commercial paper		8,218		—		—			8,218
Treasury bill		—		—		—			—
Agency bond		5,936		—		(28	)		5,908
Asset-backed securities		3,826		—		(23	)		3,803
Total	$	100,125	$	—	$	(412	)	$	99,713

	December 31, 2022
	Cost or		Gross		Gross			Total Estimated
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Description:
Money market funds	$	14,620	$	—	$	—		$	14,620
U.S. government agency securities		93,065		—		(982	)		92,083
Corporate notes and bonds		27,133		6		(186	)		26,953
Yankee bonds		3,815		—		(7	)		3,808
Commercial paper		24,073		—		—			24,073
Treasury bill		11,361		2		(4	)		11,359
Agency bond		5,863		4		(2	)		5,865
Asset-backed securities		9,287		2		(82	)		9,207
Total	$	189,217	$	14	$	(1,263	)	$	187,968